Subordination Agreement 1982-117004
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RE'eORDING REQUESTE.2 8 0
RltoRDro AT THE REQUEsT Olli
SAFECO TITlE INSURANCE CO,
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RECEIVED
AND WHEN RECORDED MAIL TO
MAY
7 1982
82-117004
~ECORDED INP.il
OFFICIAL RECORDS
OF SAN DIEGO COUNTY, CA.
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N....ME
Ci ty Clerk
City of poway
P.O. Box 785
Poway, CA 92064
CITY OF POWAY
CITY CLERK'S OFFICE
1982 APR 2 6 AM 8:00
AODRESS
CITY &
STAT! L
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LiVERA L LYLE~
COUNTY RECORDER
NOm
SPACE ABOVE THIS LINE FOR RECORDER'S USE
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SUBOHOINATI.!1N AGHEE~IENT
NOT](~E: THIS SUlJOHDINATJON ACH!cEMENT HESULTS IN YOUll SECUHITY INTEHEST IN THE I'IWPEItTY
BECOi\IINC SUBJECT TO AND OF LOWEll PItIOI(lTY TIIAN THE LIEN OF S()~lf OTHEH 01( LATF:!l SECUIUTY
INSTRUMENT,
THIS AGREEMENT, made IhiLm..,.., 22nd..mumm, uu day oL J1ar,ch u,' 19..82mm.
byuum'mmuMel'lin'..Wo.lchinsIWu and"C,liti,r~u,W.oJs"~T1,$j5.Y"m' ",'uu'u .
owner of the land hereinafter descrihed and hereinafter referred to as ':Owner", UIHL. .........Ci.ty. .Qt.1?.o.W.9-Ymmn
present owner and holder of the deed of trust and note first hereinafter de~cribed and hereinafter referred to a.-; ':Bene-
ficiaryH;
WITNESSETII
THAT WHEREAS, Owner has executed a deed of trust, dated,uunn,m;;~p,t;.Em1);>,~-'nJ.,_)._',n ~~,!l~mn'
to... 'n' ...E.il::s.tn.Ame.ri.can..,Title___Insu.:r:.ance.._COmp_any___n____mn...___.__.____ummn__nnh...n_..m. __moo.' as trustee, co\'cri n g :
Lot 72 of Green Valley Estates Unit No, 6, according
to Map thereof No. 3808, filed in the office of the
countv_Recordex_of_S an_Diego_County~I_F..ebruary_l3., 1958,.
to secure a note in the sum of $_.....__3_,'OOO'...0_On.____._m_______...., dated....mnmm.Se.P-_t_e..~e.r___.lA..._hl..9.8J..__n.mnm_.... ...., in
favor of', CITY OF POIoIAY which deed of trust >>as recorded November 4, 1981, as File No.
81-350306 Official Records of said County; and
WHEREAS, Owner has executed, or is about to execute,.a deed of trust and note in the sum of s...2n-l-'O_QO_I.Q_Qm_....'
datedmnnn, u M,~.:r,c;;hu.2. 3."u .1.9,82 mmmn uu,uu,uu,'u, in favor oL"Sannllie.go u Teacbe.rs,'n, CredLt, ,Unionnn"..",
._m__mmm___.. 0.________....___00 ____..__nm____...__ .....__.__. __...m.mn. _ .______m__ "' hereinafter referred to as
"Lender", payable with interest and upon the terms and (:()lIditions described therein. which deed of trust is also La be
recorded concurrently herewith; and
WHEREAS, it is a condition precedent to obtaining saitl loan from Lender that said deed of Lrust last aho\'e
mentioned shall unconditionally be and remain at all limes a lien or charge upon the land hereinbefore descrihed: prior
<llld superior to the lien or chnrge of the deed of trust flr~l al,o\:c mcntioned; and
WHEREAS, Lender is willing to make said loan provided the deed of tru:;t securing the same is a lien or charge
upon the above described properly prior and superior to the liell or clwrge of the deed of tru~t first above mentioned and
provided that Beneficiary will specifically and uncondit.ionally ~ubordinate the lien or charge of the deerl. of trLlst first \ _
'ahove'menlioned,-to the'lien or -charge'of-the deed of trusr"in f:l\.oi'-of Lender:' al-ld~--- - -- -- - - i1';'"'o
WHEHEAS, it is to the mutual bencfit of the partie:; hereto that. Lender make such loan to Owncr; and Beneficiary
is willing that the deed of trust securing the same shall, when recorded, con~litl1te a lien or charge UPl)ll said land which
is unconditionally prior and superior to the lien or (:harge of the deed of trust fir~l ahove mentionecJ.
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NO\V, THEHEFOHE, in consideration of .the JUutunl benefit~ accruing to the partics hereto and other "aluable ,
consideration ,thC' 'receil)! and sufiiciendv fir whichl consideration 'is hereby acknowledged, and in order to induce Lender
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to make the loan ahove referred to. it is hereby declared, ulldcr~tood and agreed as follows:
(l) That ,:,aid deed' pf trust '<l'UlfIng ~ald note in tWOf of Lender. and <111) renewal:; or c.'den~ioll~ !Iwreuf.
shall unc~)IJditionallr !)c and rernu!1l "at" ;lLtlni'~s a, hell or charge on the propelty therein descrihed, prior
and superior to'the lien or charge of the aced of 'trust first above mentioned.
(2) That Lender would not make its loan abo\'c descril,ed without this ~ubordination agreement.
(3) That this agreement shall be the whole and only agreement with regard to the subordination of the
lien-or-chargc of~the~deed-of~lru.3t-first-ab{)\'e-iiieiltiohea-rotlle lien or charge of the deed -of trust in favor
of Lender allon: referred 10 and shall supersede and cancel, hut only in::iofar us would affecl the priority
hetween the deed~ of tru~t hereinhefore specifically described: any prior agreements as to such subordina-
tion including: hut lIot limiteci to, those provisions, if any: contained in the deed of trust first above men-
tioned. which provide for the subordination of the lien or charge thereof to another deed or deeds of trust
or to another mortgage or mortgages.
Beneficiary declares, agree:' and ackno\\ ledges that
(a) He con~cn1s to anci apf)l"o\"c:, (i) all" prorisiofl:- of the nole and deed of lrust in fu\'or of Lender above
referred to, and (ii) all agreements, including but not limited to any loan or escrow agreements, between
Owner and Lender for the di~l)Urselllellt of the proceeds of Lender"s loan;
(b) Lender in making disbursements pursuant to any such agreement is under no obligation or duty to,
nor has Lender represented that it will, see to the application of such proceeds by the person or persons to
whom Lender disburses stich proceeds and any application or use of such proceeds for purposes other than
those provided for in such agretment or agreements ~hall not defeat the suhordination herein made in
whole or in part;
(c) He intentionally and unconditionally waives, relinquishes and suhordinates the lien or charge of the
deed of trust first above mentioned in favor of the lien or charge upon said land of the deed of (rusl in
favor of Lender "abo\'c referred to and understands that in reliance upon, and in consideration of, this
waiver, relinquishment and subordination specific loans and advances are being and will be made and,
as part and parcel thereof, specific monetary and other obligations arc being and will be entered into
whLch \Jould nc:L!)e made or entered into but for said reliance upon this waiver, relinquishment and sub.
ordination j and - - - - --
(d) An endorsement has been placed upon the note secured by the deed of trust first above mentioned
that said deed of trust has by this instrument heen subordinated to the lien or charge of the deed of trust
in favor of Lender above referred to.
NOTICE: THIS SUBORDINATION AGREE~IENT CONTAINS A PROVISION WHICH ALLOWS THE PERSON
OBLIGATED ON YOUR REAL PROPERTY SECUHITY TO OBTAIN A LOAN A PORTION OF WHICH MAY BE
EXPENDED FOR OTHER PUHPOSES THAN IMPROVEMENT OF THE LAND,
u,7h9f1~V:' ~VttM,~uu u,
u '" ,lJu , u ~j,,1;y uQf P9''''<>-Yumu' 'm u uu ,
Beneficiary
(All signatures must be acknowledged)
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This Form Furnished By SAFECO Title Insurance Company
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IT IS HECOMMENDED THAT, PIHOIl TO TI-IE EXECUTI01\' OF TIllS
SUBOHDlNATION AGHEnlENT, THE PARTIES CONSULT WITH THEIR
ATTOBNEYS WITH BESPECT THEBETO,
(SUBOHDINATION FOH~l "B")
'1,,274 (GS,) Concurrent
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GENERAL FORM
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Ca lifornia
STATE OLS..'....D'...'....""...."']
County of..........':l.~......~.~9.?......... ss
On rhis..J2Ild....day of..,~a!:,ch ",A D. 1 ~B?, odore me." E"i~..,~,~..,J>,()':'Ell~"..,....,......,..,..,....
a Notary Public in and for the said County and Stare, residing thereIn, July commissioned and sworn, personally appeared............
::-,:-: ,-.--.-", ,lY1<=1." ~,Il, ,VI,o.lc,hin Sll<X, ,a,Ild" C ,la ~rE!, ,v! ()lCl1insl<Y" ,::, -: -.-:::: ::,-:: ::,::,:::: ,::, ::::,::, ::::,-:::::::""",.",
personally known to mc to bt: the person~....whose name..~.. ....~.~.~............subscribed
to the within Instrument, and duly acknowledged to me that. ....t.hey......executed .the
same.
JIll UlitUfli!; 1I1I~rrrl1f. I have hereunw e my hand and aRlxed my official seal (he day
:' 'NOT~I~~l~~~;~NIA and year in rhis curifieate first above writlen"""'~.,;,~"',~.,,,R~,,:,,""
SAN DIEGO COUNTY Notary Public in and for said County and State.
~y comm. expires AUG 21, 1984
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,State of Cali fornia )
f . ) SS
County 0 San Dlego
On ~Q<.'C'c.'" aC\, ,qat. bdore me, the undersigned, a Notary Public in ~~.~..n..o
for sai,d Stil.t.e, oersonally appeared 2OOlm~~~ljJ~j@Of~~~1\l.lW"~'
MARJORIE K. WAHLSTEN, known to me to be the City Clerk of the CIn OF POWAY, am' kiiowil
to me to be the personi who exected the within instrument on behalf of said public
corporation, agency or political subd'ivision, and acknowledged to me that such public
corporation, agency, or political subdivision executed the same.
WITNESS my h~ and official seal.
Signature ~.w.a:a" 2. .9~UJ\li.
OFPICIAL SE~L-' ~ i
EVIA l POWELL K
NOiA,RY PUBUC . CALIFORNIA I(
SAN DIEGO COUNlY "
My_.comm. ~x.pjres AUG 21, 1984 \
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Evia L. Powell
Name (typed or printed)
(Seal)
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